secwatch.observer — SEC 8-K summary
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Issuer:     GRANDSOUTH BANCORPORATION (—)
CIK:        0001126961
Form:       8-K
Filed at:   2023-01-04T23:59:59+00:00
Accession:  0001552781-23-000004
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.75
Item codes: 2.01, 3.03, 5.01, 5.02, 5.03, 8.01
LLM model:  deepseek-v4-flash:cloud@v2

GrandSouth Bancorporation merges into First Bancorp effective Jan 1, 2023
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- Effective Jan 1, 2023, GrandSouth merged with and into First Bancorp, with First Bancorp surviving.
- Each share of GrandSouth common stock converted into 0.91 shares of First Bancorp common stock.
- All former GrandSouth directors and officers departed; Mason Y. Garrett and J. Randolph Potter appointed to First Bancorp board.
- GrandSouth common stock to be delisted from OTCQX; Form 15 filed to deregister and suspend SEC reporting.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1126961/000155278123000004/0001552781-23-000004-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1126961/000155278123000004/e23003_grrb-8k.htm
  HTML page:      https://secwatch.observer/filing/0001552781-23-000004

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer